The Philippines micromobility market is projected to be worth USD 13,899.7 million by 2030, growing at a CAGR of 158.6%, according to P&S Intelligence.
This growth can be ascribed to the growing requirement for decreasing air contamination and transportation price, thriving demand for well-organized micromobility facilities for first- and last-mile connectivity, and decreasing battery cost.
In recent years, the e-mopeds category, held the largest revenue share in the Philippines micromobility industry, on the basis of vehicle type. The same is also projected to advance at the highest development rate in the coming few years. this can be credited to the rising use of e-moped services because of their cost-effectiveness in nature.
The launch of swappable batteries has augmented the fleet uptime significantly, while also decreasing the working price, which has indeed taken the micromobility market in the Philippines toward success. Moreover, with the utilization of swappable batteries, the income generation of the e-scooter business can be enhanced, because such batteries not only cut a huge chunk of the charging prices but also advance the vehicle obtainability.
Additionally, numerous electric two-wheeler builders are also concentrating on fitting battery-swapping stations for commercial and public use. For example, in recent years, Komaihaltec Inc., Honda Motor Co. Ltd., and Honda Motor Co. Ltd., together introduced a demo project with a target to generate power with wind power in Romblon Island, the Philippines.
Additionally, micromobility companies are accepting new-age lithium-ion batteries, as such batteries are eco-friendlier, providing lessen charging time and augmented running economy than lead–acid batteries. The government is also helping lithium-ion battery businesses by providing inducements and tax credits. Thus, lessening the cost of lithium-ion batteries would remain to aid the micromobility industry in the Philippines in the coming years.
Hence, the growing requirement for decreasing air contamination and transportation price, thriving demand for well-organized micromobility facilities for first- and last-mile connectivity, and decreasing battery costs are the major factors propelling the Philippines micromobility market.